The interest rate on loan against gold starts at 7.25 per cent and goes up to 18 per cent per annum, which makes it a better alternative than credit cards. Since it's a secured loan, lenders process it faster than a personal loan. You will have to go physically to the lender’s branch to avail of it.
Branches are open currently in green and orange zones. You can get loan up to 60-80 per cent of the value of your gold. Some lenders transfer the money into your bank account within half an hour. This loan allows you to make partial payments of both ...
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First Published: Sun, May 24 2020. 20:01 IST
